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Ilya Pharma closes 8.5 million EUR funding round

Evelina Vågesjö

Ilya Pharma has closed a 8.5 million EUR funding round where the EIC Fund participated and was joined by an international consortium of family offices and private investors.

“I believe Ilya is at the forefront of science by developing what can be the next advancement in biologics, tissue regeneration and immunology. The management’s decision to expand the therapeutic areas of interest, such as gastro-intestinal indications, has added value and optionality for the development of its technology,” says Humberto C Antunes industry veteran in biopharma, corporate developments and VC.

Advance the company’s portfolio

The funds will be used to advance the company’s portfolio of three first-in-class immunotherapies for skin and mucosal diseases. The active portfolio includes ILP100-Topical for treatment surgical wounds in diabetic, prediabetic and obese patients especially at risk, ILP100-Topical for diabetic ulcers and ILP100-Oral for patients with immune mediated enterocolitis resulting from cancer treatment with checkpoint inhibitors.

Read more: Interview – Evelina Vågesjö: ”I want to see my work go beyond the lab”

“We are happy to be able to announce the completion of the transaction and to have the EIC Fund on board. Although they are a major player in Europe at the moment, they have only just started making direct investments in growth stage SMEs. We would also like to thank all investors for their cooperation and contributing to developing the company to our next stage of growth. We continue maintain a high pace and are actually already securing new industrial investors to our recently opened Series B round, welcoming those interested in particular in innovative and de-risked clinical programs. In parallel we have started to plan for a public listing of the share in 2024 coinciding with the clinical data readouts of our lead programs,” says Ilya Pharma CEO and Co-Founder Evelina Vågesjö.

Photo of Evelina Vågesjö: Jenny Öhman/Nordic Life Science